After a prolonged decline, EUR/USD shifted to a correction ahead of important news from the US. Market players could look for pullbacks from the nearest short-term resistance levels.
Looking at the decline on October 2-3, traders could consider short positions and set sto-loss at 1.05928. Take profit upon the breakdown of 1.04935, 1.04754, and 1.0087.
The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
